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Research

NFT that is bound by time

NFTs have a unique ID and belong to a single wallet. Two standards define what an NFT is and should do: ERC721 and ERC1155, aiming to distinguish each token to be unique. The development of NFT is still in the early stage, and this research shows how NFTs can change their properties. We go through some existing solutions where some events fundamentally affect the NFT, changing its state, properties, or value. We give an overview of those solutions with a desire to cover how they work under the hood and notice potential problems. In the end, are presented possible use cases that open a new door into the NFT word.

3/14/2022
Marija Mijailovic
12 min
ERFC-101.gfm.md

Detect NFT Wash Trading

With the monthly trading volume of the Non-Fungible Token (NFT) marketplace OpenSea reaching 5 billion dollars in January 2022[^1] it is clear that NFTs are gaining popularity and with that grows the importance of having a transparent trading activity.

3/12/2022
Milos Bojinovic
14 min
ERFC-90.gfm.md

Crypto Insurance - Current state, problems and possibilities of creating new products

In this paper we covered 5 of the main players in DeFi insurance market in order to determine the products offered, the problems with these products, the way the claims are handled and the possibilty of creating new insurance protocols. Initially we were not familiar with this field and the effort needed for creating these products, so we conducted this explorative research.

3/9/2022
Aleksandar Damjanovic
38 min
ERFC-91.gfm.md

Transaction splitting

Many companies sell goods with a business model based on donating some percent of their profit to charity. The problem is that some of these companies don’t transparently perform these donations. If, for example, the handmade wristwatch company claims that it donates 90 percent of earnings to the charity, the buyers can’t be sure whether they indeed donated the funds to charity or just bought a very expensive product. They can only believe the company itself. Blockchain technology eliminates the need for trust.

3/8/2022
Andrej Rakic
5 min
ERFC-105.gfm.md

BLS vs Schnorr vs ECDSA digital signatures

Bitcoin and Ethereum both use elliptic-curve cryptography for generating keys and signing transactions. The algorithm they both use is called Elliptic Curve Digital Signature Algorithm (ECDSA), which represents a secure way of signing a message (a transaction for example) using Elliptic Curve Cryptography (ECC). This is a comparative analysis of BLS, Schnorr, and ECDSA signatures. The goal is to understand why are Ethereum and Bitcoin migrating from ECDSA, why BLS and Schnorr are superior to ECDSA and what are the key differences between them, how to use these signatures in the development and which Elliptic curves they are using and why.

3/4/2022
Andrej Rakic
12 min
ERFC-39.gfm.md

ROTOKEN

Organisations may include non-founder members with specific roles (treasurer, secretary, board members…) with higher permission levels, compared to the regular members. Members that have permission levels which include control over organisation finances represent a high risk for the organisation as there is a high risk of losing money if malicious members perform illegal transfers. That problem is especially present in the world of cryptocurrency where transfers cannot be revoked, once transaction is executed there is no rollback. The use of multisig might be an obvious solution, but the high overhead cost of writting multiple signatures on blockchain, even if the transaction is valid, may not be acceptable in many situations where there is a high frequency of transactions.

3/3/2022
Aleksandar Veljković
9 min
ERFC-103.gfm.md

Building on Filecoin and Filecoin Proofs

When looking to build dApps that utilize decentralized storage Filecoin seems like the best option even with its flaws like : absent proof of deletion for the client, absent encryption, impossible modifying of the stored data and the durability problem of Filecoin’s Proof of Replication. This research gives an overview of competitors in decentralized storage solution field with a focus on Filecoin protocol. It also shows how its competitor Storj differs from Filecoin and the current grant opportunities for potential building on it. Considering the results of the research Filecoin seems to be the best option considering the popularity and the size of its ecosystem. Currently there is no interest for building on and with Filecoin and this is a purely explorative work without experiments, in order to test the researcher’s methodology and the approach to research. However, it proposes a question about a potential way of improving Filecoin, or creating both safer protocol for the user and cheaper for the storage miners.

2/25/2022
Aleksandar Damjanovic
19 min
ERFC-38.gfm.md

Solidity++ (S++)

Writing efficient code in modern languages is mostly reflected in writing efficient algorithms and business logic. Writing efficient code in Solidity is mostly reflected in thinking as an assembler, moving focus from logic implementation to memory optimisations and low level hacks. Highly optimised code may become unreadable and unmaintainable with possible bugs hidden between the lines of bit level operations. To solve this problem, this project proposes multiple automatic optimisation techniques that will be all summed up into a transpiler and Solidity language extensions called Solidity++.

2/24/2022
Aleksandar Veljković
6 min
ERFC-57.gfm.md

Gaming DAPPs - Play to Earn model

Blockchain games, also called Gaming DAPPs, are an emerging area in the Web3 space. With their gameplay, Gaming DAPPs currently cannot compete with the 3D AAA games and they mostly resemble 2D Hyper Casual Mobile games. Developers often need to make compromises in separating on-chain activity from the actions that are taken off-chain and so the line is blurred between what is truly a blockchain game and what is not. However, strong advantage of these games is that they almost always offer some form of an economic incentive to the players with an opportunity to “own” part of the game in order to influence the game’s further development.

2/24/2022
Milos Bojinovic
32 min
ERFC-37.gfm.md

Access NFT Tools - Overview And Space For Improvements

NFT Access tokens are primarily used to join private Discord and Telegram communities. Still, a significantly larger opportunity lies in many online and offline communities and events that might utilize this technology.[^1]

2/21/2022
Milos Novitovic
10 min
ERFC-40.gfm.md

Analysis of smart contract fuzzers

We are witness of the accelerated development of smart contracts, and more and more valuable assets are contained in them. For this reason, it is very important to write secure smart contracts. However, since people write smart contracts, and people make mistakes, it is desirable to have a tool that will be able to point out potential problems in the code. Fuzz testing is a technique that with early entry stresses our program to reveal errors. We will get to know with fuzing tools through this research.

2/17/2022
Marija Mijailovic
14 min
ERFC-42.gfm.md

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